Back to top
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Image: Bigstock
Large-Cap ETF (SPLG) Hits New 52-Week High
For investors seeking momentum, SPDR Portfolio S&P 500 ETF (SPLG - Free Report) is probably on the radar. The fund just hit a 52-week high and is up 29% from its 52-week low of $44.75 per share.
But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed:
SPLG in Focus
SPDR Portfolio S&P 500 ETF offers exposure to the large-cap segment of the broader equity market. It has key holdings in information technology, financials, healthcare and consumer discretionary. SPDR Portfolio S&P 500 ETF charges just 2 bps in annual fees (see: all the Large-Cap Blend ETFs here).
Why the Move?
The large-cap corner of the broad investing world has been an area to watch lately, given the surge in the stock market. The S&P 500 Index touched the 49,000 level for the first time as yields fell. Additionally, a busy week packed with big tech earnings releases is fueling a rally in the stocks.
More Gains Ahead?
Currently, SPLG has a Zacks ETF Rank #2 (Buy), suggesting that the outperformance could continue in the months ahead. Many spaces that make up this ETF have a strong Zacks Industry Rank. So, there is definitely some promise for those who want to ride this surging ETF a little further.